Gal Krubiner Buys 16,230 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CEO Gal Krubiner bought 16,230 shares of Pagaya Technologies stock in a transaction dated Wednesday, June 24th. The shares were bought at an average cost of $15.43 per share, with a total value of $250,428.90. Following the completion of the transaction, the chief executive officer directly owned 555,906 shares in the company, valued at approximately $8,577,629.58. This trade represents a 3.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Pagaya Technologies Stock Performance

Shares of NASDAQ:PGY traded up $0.28 during mid-day trading on Thursday, reaching $15.48. The company had a trading volume of 3,687,682 shares, compared to its average volume of 3,865,085. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average price is $14.34 and its 200-day moving average price is $16.06. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 14.47 and a beta of 5.35.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. The firm had revenue of $91.63 million for the quarter. As a group, equities research analysts anticipate that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on PGY. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $32.00 target price on shares of Pagaya Technologies in a research report on Monday, May 18th. Zacks Research upgraded shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Finally, Weiss Ratings raised shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $34.50.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PGY. AQR Capital Management LLC grew its holdings in Pagaya Technologies by 2,722.3% during the 1st quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock valued at $3,204,000 after buying an additional 294,878 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Pagaya Technologies by 11.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock worth $653,000 after buying an additional 6,365 shares in the last quarter. Millennium Management LLC boosted its position in shares of Pagaya Technologies by 320.1% in the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after acquiring an additional 961,944 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Pagaya Technologies by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after acquiring an additional 359,099 shares during the period. Finally, Legal & General Group Plc grew its stake in Pagaya Technologies by 19.0% during the second quarter. Legal & General Group Plc now owns 34,909 shares of the company’s stock valued at $744,000 after acquiring an additional 5,580 shares in the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.